Investor Group Buys Naples Community
A group of investors picked up a value-add seniors housing community in Naples, Florida. Built in 1999, North Haven Senior Living features 132 units of assisted living and memory care. It appears that Brookdale Senior Living previously operated the community, which showed very well and did not require much in terms of capex. We understand that occupancy improved significantly during the sale process, as well. Silver Wave Capital announced the purchase (its sixth overall), along with lead investor Persimmon Ventures and operating partner Senior Living Asset Management, which will take over management of the community. Ten other seniors housing investors participated in the deal, including... Read More »
Brookdale’s Uneven Recovery
Brookdale Senior Living has been going through some major changes in the last year, so naturally its recovery could be a little uneven, with the hope of more long-term growth and stability. They have a new CEO, COO and a new operational structure, in addition to exiting more than 100 communities in the last year. But the mixed bag of results can be frustrating from shareholders’ point of view, especially as they see a disconnect between Brookdale’s anemic performance and headlines on strong sector fundamentals, healthy and rising occupancy levels across the sector and in most Brookdale markets, and appealing opportunities for growth. Plus, it is on top of many years of underperformance to... Read More »
Two Public REITs Continue Their SHOP Push
Two public REITs honing in on the seniors housing sphere have announced their first quarter earnings results. LTC Properties reiterated its commitment to seniors housing again, and Janus Living, Healthpeak Properties’ spin-off REIT that debuted in the public markets in March, is already showing momentum. First, after completing seniors housing acquisitions and conversions of nearly $570 million in 2025, LTC Properties invested $108 million in SHOP acquisitions during the first quarter of 2026. Subsequent to quarter end, LTC Properties deployed $9 million in SHOP acquisitions, and an additional $250 million is anticipated to close in the second quarter. In the first quarter, the... Read More »
Tennessee Assisted Living Community Sells
Andrew Montgomery of Montgomery Intermediary Group recently sold an assisted living community in eastern Tennessee. Built in the late 1990s, the building featured more than 40 units, plus some houses on its campus. There was some additional acreage, as well. It was sold by one out-of-state owner to another, but the buyer has another assisted living community nearby in western Virginia. There were several local and regional groups that showed interest in the deal, which ultimately closed on May 1. No other details were disclosed. The closing comes on the heels of a bank financing closed by MIG’s Jeremy Warren and a new hire for the firm. Colin Thomas, CFA joined MIG as an investment sales... Read More »
SNF Portfolio Trades Following Strong Bidding Environment
A regional operator looking to recycle capital divested a portfolio of four skilled nursing facilities in Florida. There were a total of 460 functional beds, and they were spread across Rockledge, Naples, Venice and Sarasota. Evans Senior Investments handled the deal. The portfolio generated approximately $46 million in total annualized revenue and maintained a healthy 83% occupancy, while still offering upside potential. ESI identified that nearby competitors were capturing a large share of the local Medicare volume and provided a blueprint for a new operator to strengthen hospital referral relationships and drive the Medicare census from 40 to 58 patients per day. ESI also... Read More »Schedule a demo
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